Buy Federal Bank for 25% upside, forming Inv H&S, Tgt 60
Federal Bank is currently forming its Right shoulder in the bullish Inverse H&S pattern and will breakout above 50.7 (neckline). Buy at current levels of 46.5-47, for upside of 25-27% with target Rs60. SL at 44.7.
Trade closed: target reached:
Book profit at 58. Stock up 25% since recommendation